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Iberdrola and the European Investment Bank (EIB) have signed a new agreement for the provision of a EUR70 million (US$74.5 million) green loan for the development of a portfolio of projects in Portugal with a total capacity of around 188 MW.
The solar facilities would produce green and competitive energy equal to the average use of over 65,000 households. More than EUR150 million (US$159.6 million) will be invested in the projects.
The EIB will fund five photovoltaic (PV) solar facilities and associated grid connections in the Portuguese provinces of Algarve, Centro, Alentejo, and Lisbon.
